In the US, people using payment apps like PayPal, Venmo, and Square will need to start reporting business transactions to the IRS. The operations that must be reported are those payments for goods or services totaling US $ 600 or more during the year.
In the US, people using payment apps like PayPal, Venmo, and Square will need to start reporting business transactions to the IRS. The operations that must be reported are those payments for goods or services totaling US $ 600 or more during the year.